Hyderabad: byteXL, a US-based business with a presence in India, announced on Tuesday that it has raised a seed capital of $200,000 in an angel round.
The funds were raised with the help of Joseph Joy, head of Joy Family Investments in the United States, and others. The funds will be used to assist byteXL expand its content, sales & marketing, product portfolio, and operations.
Through a hybrid learning platform and guided campus recruitment strategy, byteXL educates engineers in traditional coding and new era technologies like cloud, AI/ML, DevOps, and full-stack development.
The Telangana and Andhra Pradesh-based business will soon expand to Karnataka, Maharashtra, Punjab, and other northern states.
“In the next ten years, India is projected to hire 16 million engineers,” said Karun Tadepalli, CEO and co-founder of byteXL, “and now, around 93 percent of engineering graduates in India are not equipped enough to enter the IT industry.” The goal of byteXL is to raise the employability quotient.”